Marketing Your Business In The Coronavirus Economy
In this post, we’ll attempt to outline some of the strategies we’ve seen to be working for companies, in the wake of the Covid pandemic, and discussing simple changes every business can make to reduce the damage and create fresh opportunities.
13 Marketing Tips Smart Companies Are Using To Generate New Business During The Covid-19 Crisis
The Covid-19 virus has wreaked havoc around the globe. Here in the UK hundreds of thousands of companies are facing an almighty challenge to get back on their feet and adapt to the new normal, whenever that begins.
Like many small and medium-sized businesses, here at Cash Cow Marketing, we’re trying our best to carry on. Many of the companies we partner with already take a very flexible approach to lead generation and attracting new business. As such, they were well-positioned to react quickly, adapt and continue.
Protecting your company when times are tough. Have a plan!
For our part, we continue to help clients discover new markets and leads through innovative marketing techniques. And we’ve learned that those organisations suffering least had the most resilient plans in place long-before Coronavirus was ever a thing.
While the short-term outlook varies hugely from industry to industry, it is important for every company to have an exit strategy in place as quickly as possible. So, to help your business plan for the future, here are 13 tips on protecting your company in these tough times:
1. Accept that things have changed. Do not try and carry on as usual and in absolutely no circumstances try the hard sell.
2. Protect your employees and invest in the collaborative tools that make it easier for them to work from home or the protective measures that allow them to work safely at your premises.
3. Stay in touch with your clients. Keep them informed and updated of the changes you’re making and any special considerations they need to take note of. But most of all, stay in touch.
4. Engage with customers, leads and your local community. Right now even the busiest companies have time on their hands and we’re all spending more time online. Leverage your LinkedIn account, or Facebook page to share news.
5. If you run a blog write up a post informing the public you are still there and letting them know of any new arrangements. If you’re not a blogger, call your web team and have them add a sentence of two to your homepage.
6. Step up your email reply rate. Rather than waiting an hour or even a day, try and reply immediately. Not only is it polite, but it also shows potential customers that you’re at your desk and fully operational.
7. Consider ways of broadening your offering to adapt to the ‘new normal’. What areas of your sales process could be automated or done from a distance? Meetings? Payment? Downloads? Delivery?
8. Market, market, market. Competition is low right now, many companies are closed. Consider new ways of promoting your business. If you haven’t tried email marketing as a way of reaching new leads, now could be the time.
9. Discover the fabled 20% of actions that generate 80% of your profit. Marketers often talk about the small number of actions your company takes that yields the best results. Known as the Parento Principle, now is the time to figure out where your results come from and focus on those areas of your business.
10. Try offering custom plans to help customers who may be struggling.
11. Cut superfluous marketing spend in favour of building long term relationships. Now is not the time for expensive ad campaigns, that will be drowned out by the noise of mainstream media. It is, however, a great time to explore cost-effective solutions like growing your professional network on LinkedIn, hosting a webinar, launching a podcast or finding new leads through telemarketing.
12. Try new things. This is no time to sit back and wait. Almost every business is at risk right now. Call in your brightest staff to brainstorm ideas, listen to your kids, search online, spy on your competitors, spy on market leaders, read blogs and find out what other companies are doing. People still need your product or service, it’s up to you how to deliver it.
13. Keep going. These are difficult times, but we will pull through and the world will return to some semblance of normal.
What have we learned from the Covid-19 pandemic?
While the pandemic may seem like a once-in-a-lifetime event, the reality is that an emergency can come along to disrupt your business at any time. Use this time to consolidate your current client base, lock-in strategies for generating new leads and prepare your team for the new normal, whatever it may be.
Depending on your line of business, some of the above may not be necessary, but as any sales manager will tell you, where there is no funnel there are no sales.
For a free, no-obligation call about how your company could be generating new leads, fill out the form below, let us know when is a good time to talk and one of our team will give you a call.